Renaissance Technologies LLC Acquires 76,701 Shares of Porch Group, Inc. (NASDAQ:PRCH)

Renaissance Technologies LLC raised its position in Porch Group, Inc. (NASDAQ:PRCH - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,910,102 shares of the company's stock after purchasing an additional 76,701 shares during the period. Renaissance Technologies LLC owned 1.60% of Porch Group worth $9,398,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PRCH. Invesco Ltd. boosted its stake in Porch Group by 4,365.6% in the fourth quarter. Invesco Ltd. now owns 1,682,286 shares of the company's stock worth $8,277,000 after buying an additional 1,644,614 shares in the last quarter. Bank of Montreal Can boosted its holdings in Porch Group by 142.7% in the fourth quarter. Bank of Montreal Can now owns 337,877 shares of the company's stock worth $1,662,000 after purchasing an additional 198,649 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Porch Group by 756.9% during the 4th quarter. Wells Fargo & Company MN now owns 205,780 shares of the company's stock worth $1,012,000 after acquiring an additional 181,766 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Porch Group by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,012,705 shares of the company's stock worth $9,905,000 after purchasing an additional 24,824 shares during the period. Finally, Diametric Capital LP bought a new position in shares of Porch Group during the fourth quarter worth $564,000. 48.48% of the stock is currently owned by hedge funds and other institutional investors.

Porch Group Trading Up 6.1 %

NASDAQ PRCH traded up $0.30 during trading on Wednesday, reaching $5.18. 489,914 shares of the company's stock were exchanged, compared to its average volume of 1,831,728. The firm has a market capitalization of $621.93 million, a PE ratio of -7.40 and a beta of 2.15. Porch Group, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $8.49. The company's fifty day simple moving average is $5.95 and its 200-day simple moving average is $4.54.

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 10,000 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $5.34, for a total value of $53,400.00. Following the transaction, the chief financial officer now owns 218,580 shares in the company, valued at $1,167,217.20. The trade was a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Matthew Neagle sold 27,328 shares of Porch Group stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.99, for a total value of $191,022.72. Following the sale, the chief operating officer now owns 1,356,729 shares of the company's stock, valued at approximately $9,483,535.71. This represents a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 205,554 shares of company stock worth $1,273,590 in the last quarter. 23.46% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Porch Group from $3.50 to $6.00 and gave the stock a "market perform" rating in a research note on Monday, March 3rd. Benchmark boosted their target price on Porch Group from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Stephens increased their target price on shares of Porch Group from $8.00 to $10.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Oppenheimer raised their price objective on shares of Porch Group from $7.00 to $8.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Finally, Loop Capital raised shares of Porch Group from a "hold" rating to a "buy" rating and set a $6.00 price objective for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $7.32.

Porch Group Company Profile

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.